Pitkin County Property Taxes
The median property tax rate in Pitkin County is 0.26%, which is significantly lower than both the national median of 0.99% and the Colorado state median of 0.55%. With the median home value in Pitkin County at $1,237,200, the typical annual property tax bill reaches $4,527, which exceeds the national median of $2,690. Property taxes in Pitkin County are calculated based on the tax assessed value, which generally falls below the actual market value due to various property tax exemptions like the primary residence and agricultural exemptions. Understanding Pitkin County's specific property tax system, exploring available exemptions, and identifying opportunities for property tax reductions can provide significant annual savings. Whether you live in Aspen or another part of Pitkin County, gaining a comprehensive knowledge of local property taxes will benefit both homeowners and real estate investors.
Last Updated June 14, 2024
Pitkin County Property Tax Bill Calculator
$100,000
$2,500,000
$5,000,000
Average Tax Rate
0.55%
Estimate Property Tax Bill
$1,100
Ownwell’s Pitkin County Property Tax Bill Calculator assists homeowners, real estate investors, and potential buyers in estimating their annual property taxes in Pitkin County with just two data points. By entering your property's estimated assessed value, our calculator applies the median tax rate in Pitkin County to estimate your property tax bill. This tool provides valuable insight into potential tax liabilities. For more localized trends, scroll down to navigate to a city-specific informational page. Your property's assessed value is the value assigned by the county for property tax purposes and considers any exemptions you may have.
Property Tax Rates Across Pitkin County, Colorado
Property taxes in Pitkin County play a crucial role in funding essential local services like public schools, road maintenance, and emergency services. The median tax rate in Pitkin County is 0.26%, which is significantly lower than the U.S. national median of 0.99%. Local government entities within Pitkin County set these rates annually, and they can vary significantly between different areas within the county. Each year, Pitkin County estimates its required budget to maintain services for the upcoming fiscal year and divides this budget by the total value of all taxable property in the jurisdiction, resulting in the property tax rate. Although tax rates and budgets are influenced by laws and voter input, this calculation forms the basic process for setting property tax rates. For comparison, the city of Basalt has one of the higher property tax rates in Colorado at 0.65%, while the city of Redstone boasts one of the lowest at 0.49%. Analyzing how Pitkin County's tax rates stack up against these benchmarks can give homeowners a better understanding of the local tax landscape.
Average Pitkin County Tax Rate
0.26%
Average Colorado Tax Rate
0.55%
Average United States Tax Rate
0.99%
Property Tax Rates Across Pitkin County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Rate | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aspen | 0.22% | 0.25% | 0.25% | 0.25% | 0.35% |
| Basalt | 0.57% | 0.57% | 0.65% | 0.65% | 0.75% |
| Carbondale | 0.46% | 0.53% | 0.53% | 0.70% | 0.70% |
| Meredith | 0.57% | 0.57% | 0.57% | 0.57% | 0.57% |
| Redstone | 0.49% | 0.49% | 0.49% | 0.49% | 0.49% |
| Snowmass | 0.43% | 0.57% | 0.57% | 0.58% | 0.81% |
| Snowmass Village | 0.35% | 0.35% | 0.35% | 0.35% | 0.74% |
| Woody Creek | 0.21% | 0.22% | 0.22% | 0.41% | 0.72% |
Source: Ownwell
Property Tax Assessment Values Across Pitkin County, Colorado
In Pitkin County, understanding the difference between "market value" and "assessed value" is key to comprehending property taxes. The market value represents the price a willing buyer would pay to a willing seller in an open, competitive market, considering location, property condition, and current economic trends. For tax purposes, this value is estimated by the Pitkin Appraisal District. The assessed value, however, is the market value minus any applicable exemptions or limits based on local laws and available programs. The assessed value is then used to calculate your property taxes by multiplying it by the combined tax rates of all relevant taxing entities. Assessment notices in Pitkin County are typically mailed in the spring, usually by the middle of April. These notices provide homeowners with both the market and assessed values, along with an estimate of the annual property tax bill. The median home price in the county stands at $1,237,200, with tax bills ranging significantly. For instance, Aspen has the highest median tax bill at $5,578, while Meredith has the lowest at $1,484. By distinguishing between these valuation concepts, property owners can better navigate their tax responsibilities and understand how their property taxes are affected. Being aware of these valuation processes in Pitkin County will help you identify opportunities for appealing assessments or applying for exemptions to manage your tax burden more effectively.
Property Tax Assessment Values Across Pitkin County, Colorado
Source: Ownwell
$254,900
$3,919,500
$7,584,100
Average Pitkin County Assessed Value
$1,237,200
Average Colorado Assessed Value
$405,540
Average United States Assessed Value
$244,900
Property Tax Assessment Values Across Pitkin County, Colorado
| City | 10th Percentile | 25th Percentile | Median Home Price | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aspen | $220,200 | $644,100 | $2,056,400 | $5,514,100 | $10,700,000 |
| Basalt | $270,000 | $417,400 | $662,900 | $984,100 | $3,011,400 |
| Carbondale | $271,240 | $412,400 | $558,700 | $767,900 | $1,103,380 |
| Meredith | $70,140 | $120,100 | $254,900 | $497,900 | $652,120 |
| Redstone | $326,400 | $326,400 | $326,400 | $326,400 | $326,400 |
| Snowmass | $62,400 | $340,600 | $831,500 | $2,215,900 | $3,956,520 |
| Snowmass Village | $277,360 | $481,750 | $878,000 | $2,194,900 | $4,276,560 |
| Woody Creek | $250,040 | $455,550 | $2,372,300 | $4,926,700 | $7,494,900 |
Source: Ownwell
Property Tax Bills Across Pitkin County, Colorado
In Pitkin County, CO, property tax bills are calculated based on the assessed value of a home, which is a percentage of its market value. The median home price in this county is $1,237,200. Homeowners' tax bills can vary significantly, with the 25th percentile tax bill at $1,910 and the 75th percentile reaching up to $11,565. Factors influencing these variations include the home's location, size, and any applicable exemptions. For instance, Aspen has the highest median tax bill at $5,578, while Meredith has the lowest at $1,484. The assessed value is determined by local assessors who consider market trends, recent sales, and property characteristics. These assessments are then multiplied by the local tax rate to calculate the final tax bill. With the national median property tax rate at 0.99%, Pitkin County's rates can significantly impact homeowners, making it essential for them to understand their property’s assessed value and how it translates into their annual tax obligation.
Average Pitkin County Tax Bill
$4,527
Average Colorado Tax Bill
$2,283
Average United States Tax Bill
$2,690
Property Tax Bills Across Pitkin County, Colorado
| City | 10th Percentile | 25th Percentile | Median Tax Bill | 75th Percentile | 90th Percentile |
|---|---|---|---|---|---|
| Aspen | $558 | $1,803 | $5,578 | $14,502 | $28,382 |
| Basalt | $1,750 | $2,619 | $4,157 | $6,822 | $20,449 |
| Carbondale | $1,525 | $2,237 | $3,182 | $4,445 | $7,263 |
| Meredith | $399 | $774 | $1,484 | $2,778 | $3,816 |
| Redstone | $1,585 | $1,585 | $1,585 | $1,585 | $1,585 |
| Snowmass | $431 | $1,718 | $5,007 | $12,209 | $22,129 |
| Snowmass Village | $1,017 | $1,820 | $3,496 | $8,421 | $16,704 |
| Woody Creek | $997 | $2,534 | $5,287 | $10,810 | $16,452 |
Source: Ownwell